ABSTRACT
The impact of
thrift and credit society in enhancing workers welfare and productivity cannot
be overemphasized. This has prompt the researcher to carryout a research work
on the subject matter, the research started by introducing the subject matter
in chapter one, background of the study, objectives of the study, research
question, statement of the problem the significance of the study was also
highlighted in this chapter. The researcher reviewed the work of different
authors in the chapter two, the concept of cooperative, meaning of thrift and
credit, the effect of cooperative and credit society, sources of fund, the
problems they faced and the summary review is also discussed. The researcher
discussed the method of gathering data, the data gathered were analyzed in
chapter four. Lastly, the researcher draw a summary of findings, conclusion in
chapter five and made some recommendations among which the researcher
recommended that the problems of embezzlement, misappropriation of resource
dishonesty and other negative factors associated with the management of
cooperative especially in the area understudy should be checked through
supervision by the cooperative department.
TABLE OF CONTENTS
CHAPTER ONE –
INTRODUCTION
1.1
Background of the
study
1.2
Statement of the
problem
1.3
Objectives of the
study
1.4
Research question
1.5
Significance of the
study
1.6
Scope of the study
1.7
Definition of Terms
CHAPTER TWO –
LITERATURE REVIEW
2.1
Introduction
2.2
Concept of Cooperative
2.3
Meaning of thrift
and credit society
2.4
Effect of
cooperative thrift and credit society
2.5
Source of fund of
cooperative thrift and credit society
2.6
Effect of
cooperative thrift and credit society on Enhancing
workers welfare and productivity
2.7
Method and processes
of business activities of thrift
and credit cooperatives
2.8
Problems of thrift
and credit
2.9
Summary of review
literature
CHAPTER THREE – RESEARCH
METHODOLOGY
3.1
Introduction
3.2
Research design
3.3
Area of study
3.4
Population of the
study
3.5
Sample and sampling
procedure
3.6
Research instrument
3.6.1
Validity
3.6.2
Reliability
3.7
Procedure for the
administration of the instrument
3.8
Method of data
presentation and statistics analysis
3.9
Limitation of the
study
CHAPTER FOUR – DATA
PRESENTATION AND STATISTICAL ANALYSIS
4.1
Introduction
4.2
Respondents Bio Data
4.3
Answering research
question
4.4
Summary of findings
4.5
Discussion of
findings
CHAPTER FIVE – SUMMARY, CONCLUSION AND RECOMMENDATION
5.1
Introduction
5.2
Summary
5.3
Conclusion
5.4
Recommendations
5.5
Suggestion for
Further Researches
References
Questionnaire
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
This research work focuses on how cooperative thrift and
credit societies influence or enhance member’s welfare. Unlike other
cooperative society, thrift and credit societies are formed with the aims of
improving the standard living of their members. Thrift and credit societies
started from Germany by Fredrick Wilhelm Raifferson in the year 1818,
Raifferson is therefore regarded as the father of modern cooperative thrift and
credit society.
Thrift and credit society are mostly found in any form
of society, community. The popularly known among the rural dweller, even before
the mergence of modern cooperatives it serves as a rural bank before the coming
of the modern thrift and credit society. The traditional mutual system has been
called and addressed by different names, by various communities who practice it
inform of traditional saving’s.
However, cooperative societies adopted in virtually all
countries of the world for practical all aspect of human endeavour’s modern
cooperative organization have penetrated into all the facets of human
activities and used of human activities and also to achieve both social and
economic goals.
In Nigeria, thrift and credit societies started in the
year 1940, by the Roman Catholic teachers for salary earners and primarily to
take care of their old age and retirement. Members make regular thrift saving
during the period they are under employment and other saving for special
purpose could also be made by an individuals if they wished, such saving could
be for children’s schools fees, vacation leave etc.
The societies also grant loans to members and such loans
are repaid on monthly installmental basis while regular savings continues. No
members of such societies may withdraw while still under employment. Usually
the society’s money deposited with the post office saving banks.
However, in modern thrift and credit society
contributions are not necessarily the same, minimum monthly saving are fixed,
and members who share contributions as a regular monthly savings, some are
removed directly from-their salaries.
1.2 STATEMENT OF THE PROBLEM
The primary aim of any cooperative society is to meet
economic, social and cultural needs of members if well operated and managed.
Despite the prospect and significance of thrift and
credit cooperative societies, some people are still reluctant in joining or
participating in thrift and credit societies. It has unfortunately been
discovered that most thrift and credit cooperatives societies are not very
effective in the business activities consequently they end up not achieving
their goals. As a result of this, the study will try to find out the factor
that militates against the enhancement of welfare of its members. Furthermore,
in most cases, the members saving are embezzled or misappropriated. It is in
the light of this that it is doubtful whether thrift and credit cooperative
societies actually perform their roles, that is why this topic is conducted to
examine their effect so that the situation can be addressed before it get out
or hand.
1.3 OBJECTIVE OF THE STUDY
The study is guided by the following objectives:
i.
To examine the
effect of thrift an credit society in enhancing workers welfare and
productivity of hotel worker;
ii.
To examine the
method and processes of the business activities in Hamdala Hotel thrift and
credit society;
iii.
To ascertain the
problems military against the smooth operation of the different form of
cooperative ventures establishes to help workers.
1.4 RESEARCH QUESTION
To guide this study the research questions have been put
forward and the following are stated as research questions.
i.
Does Hamdala thrift
and credit society help in the enhancement of workers welfare and productivity?
ii.
What are the method
and processes of the business activities in Hamdala thrift and credit society?
iii.
What are the
problems militating against the smooth operation of the different form of
cooperative ventures establishes to help workers?
1.5 SIGNIFICANCE OF THE STUDY
This study is designed to help cooperative thrift and
credit societies over problems related to finance and management of cooperative
organizations.
The research also intended to find possible solution to
the above mentioned problems by giving recommendation on how to prevent the
future occurrence. The research aimed at finding the relevant contribution of
cooperative society toward the economic development of Nigeria. The study area
is Hamdala Hotel workers thrift and credit society, will be used to ascertain
all the basic facts needed.
At the end of this research the management and the
members of Hamdala hotel cooperative society can consider the present problems
facing the society. Scholars’ researchers and incoming student will benefits
from these research works because it will serve as reference material to them
with a view towards enhancing their knowledge.
1.6 SCOPE OF THE STUDY
The scope of the study will be limited to the effect of
thrift and credit cooperative society on enhancing workers welfare and
productivity in the Hotel industry in general and Hamdala Hotel in particular.
As a result, the product findings will be limited only to Hamdala hotel limited
in Kaduna, generalization can only be made of similar hotels with the same
characteristics as the subject matter.
1.7 DEFINITION OF TERMS
Byelaw = It means registered law of the society before any
member assumes membership.
Cooperative = Here it means an association or persons who
voluntarily come together in order to achieve a targeted economic, social and
cultural goals.
Welfare = Here it can be seen as the raising of social and
economic welfare or members so as to be self reliance.
ManagementCommittee =
This are the governing body of the society where they are elected during the
annual general meeting to managed the affairs of the society on behalf of
members.
Members = The bonafide members, registered members of Hamdala Hotel
thrift and credit cooperative society limited.
Thrift and Credit
Society = Is a cooperative
organization that provide its members with convenient and secured means of
saving money and obtained credit at a reasonable rate of interest without collateral,
but deduction from salary on monthly basis.
Enhancement = Here is the improvement of quality, value of member
of Hamdala hotel cooperative
Hotel = This is the establishment which provide accommodation
and meals mostly for travelers and tourists.
Workers = Group of people that work in the Hamdala Hotel
Kaduna.
Hamdala Hotel = Is one of the international hotel which are solely
owned by new Nigerian development company, providing accommodation and meals to
the people.